By Alexandria Dennise San Juan
A new transport network company has been accredited by the Land Transportation Franchising and Regulatory Board to compete with Grab in the local ride-sharing market, an official said Wednesday.
LTFRB member Atty. Aileen Lizada confirmed that the board has given a green light for the new player Hype to operate as a TNC, weeks after ride-hailing giant Uber exited the country.
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The LTFRB Accreditation Committee found Hype to have "satisfied fully the requirements under Memorandum Circular No. 2015-015-A."
According to Lizada, the Board is expected to release the Certificate of Accreditation to Hype Tansport Systems, Inc., today, April 19.
Upon receiving the accreditation, Lizada said that the local-owned transport company can start operating as long as it can be accessed through its app.
The Certificate of Accreditations to be given to Hype signed April 18, 2018, is valid for two years
Lizada told transport network vehicle services (TNVS) drivers to went to authorized TNCs and get accreditation. Once accredited, they can get their Certificate of Accreditation to set a hearing for acquiring a franchise to operate.
"They should show us proof that they have already been accredited by a TNC. That's what they should do once the new TNCs entered," Lizada explained.
Meanwhile, LTFRB Chairman Atty. Martin Delgra III told reporters yesterday that other companies seeking for accreditation to be a TNC have yet to comply with the requirements.
He added that he wanted to fast-track the approval of these new ride-sharing market players to give more options to the riding public after Grab's acquisition of Uber's Southeast Asia operations last month.